How does the demand for any one seller's product in perfect competition compare to the market demand for that product?
A) They are identical.
B) The demand for any one seller is proportionally smaller but otherwise identical to the market demand.
C) The demand for any one seller's product is perfectly elastic while the market demand curve is downward sloping.
D) There is no demand for any one seller's competitively sold product.
E) The demand for any one seller's product is not perfectly elastic while the market demand is perfectly elastic.
C
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A) Total utility B) Marginal utility C) Diminishing marginal utility D) Preferences
In the United States, partnership profits are taxed at the business level and then are taxed again as personal income in the form of dividend payments
Indicate whether the statement is true or false
In the context of a controlled experiment, consider the simple linear regression formulation = 0 + 1 + . Let the be the outcome, the treatment level, and contain all the additional determinants of the outcome. Then:
A) the OLS estimator of the slope will be inconsistent in the case of a randomly assigned Xi since there are omitted variables present. B) Xi and ui will be independently distributed if the Xi be are randomly assigned. C) β0 represents the causal effect of X on Y when X is zero. D) E(Y X = 0) is the expected value for the treatment group.
Historically, which of the following has had the highest average annual rate of return?
A) U.S. Treasury bonds B) corporate bonds C) money market mutual funds D) corporate stocks